1y return+104.9%S&P 500 +20.9%
3y return+110.4%S&P 500 +68.5%
5y return+115.3%S&P 500 +74.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since December 31, 2020: $177 against $200 in the S&P 500.2
Avoro Capital Advisors LLCS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| UTHRUnited Therapeutics Corp | $1.5B | 13.5% | +5.6% |
| Ascendis PharmaCUSIP K08588103 | $1.4B | 12.2% | New |
| KRYSKrystal Biotech Inc | $1.1B | 9.6% | |
| MDGLMadrigal Pharmaceuticals Inc | $984.4M | 8.8% | |
| ARGXArgenx Se | $927.8M | 8.3% | |
| ARWRArrowhead Pharmaceuticals Inc | $925.6M | 8.3% | +6.1% |
| KYMRKymera Therapeutics Inc | $857.1M | 7.7% | |
| RVMDRevolution Medicines Inc | $430.2M | 3.9% | −2.0% |
| CYTKCytokinetics Inc | $425.9M | 3.8% | +50.0% |
| CELCCelcuity Inc | $355.7M | 3.2% | |
| GPCRStructure Therapeutics Inc | $351.8M | 3.2% | |
| XENEXenon Pharmaceuticals Inc | $348.7M | 3.1% | |
| DFTXDefinium Therapeutics Inc | $338.2M | 3.0% | +43.8% |
| Uniqure NvCUSIP N90064101 | $309.9M | 2.8% | +12.9% |
| VERAVera Therapeutics Inc | $245.6M | 2.2% | −2.8% |
| TSHATaysha Gene Therapies Inc | $162.7M | 1.5% | +10.1% |
| OCULOcular Therapeutix Inc | $123.1M | 1.1% | +1.8% |
| Damora Therapeutics IncCUSIP 36322Q206 | $98.4M | 0.9% | |
| COAGHemab Therapeutics Hldgs Inc | $70.7M | 0.6% | New |
| Gh Research PLCCUSIP G3855L106 | $48.4M | 0.4% | |
| VRDNViridian Therapeutics Inc | $45.9M | 0.4% | +66.7% |
| SEPNSepterna Inc | $44.8M | 0.4% | |
| AVTXAvalo Therapeutics | $43.1M | 0.4% | +65.5% |
| FTHFaeth Therapeutics Inc | $36.1M | 0.3% | New |
| WHWKWhitehawk Therapeutics Inc | $13.1M | 0.1% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| KRYSKrystal Biotech Inc | December 31, 2021 | +431.4% | $1.1B |
| XENEXenon Pharmaceuticals Inc | June 30, 2020 | +381.3% | $348.7M |
| ARGXArgenx Se | June 30, 2020 | +311.9% | $927.8M |
| UTHRUnited Therapeutics Corp | December 31, 2020 | +257.0% | $1.5B |
| DFTXDefinium Therapeutics Inc | March 31, 2026 | +148.9% | $338.2M |
| RVMDRevolution Medicines Inc | December 31, 2025 | +135.1% | $430.2M |
| ARWRArrowhead Pharmaceuticals Inc | June 30, 2023 | +128.6% | $925.6M |
| TSHATaysha Gene Therapies Inc | September 30, 2023 | +115.5% | $162.7M |
| Gh Research PLCCUSIP G3855L106 | December 31, 2025 | +111.7% | $48.4M |
| KYMRKymera Therapeutics Inc | September 30, 2021 | +95.2% | $857.1M |
Sold off last quarter
- Ascendis PharmaCUSIP 04351P101 was $1.2B
- Apellis Pharmaceuticals IncCUSIP 03753U106 was $491.7M
- Centessa Pharmaceuticals PLCCUSIP 152309100 was $454.0M
- Terns Pharmaceuticals IncCUSIP 880881107 was $300.2M
- Soleno Therapeutics IncCUSIP 834203309 was $77.0M
- Alkermes PLCCUSIP G01767105 was $42.4M
- MNKDMannkind Corp was $5.4M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +18.7% | +14.8% |
| March 31, 2026 | +4.5% | −4.6% |
| December 31, 2025 | +22.2% | +2.4% |
| September 30, 2025 | +35.2% | +7.8% |
| June 30, 2025 | +1.7% | +10.5% |
| March 31, 2025 | −7.0% | −4.6% |
| December 31, 2024 | −2.5% | +2.1% |
| September 30, 2024 | +2.9% | +5.4% |
| June 30, 2024 | −3.1% | +4.0% |
| March 31, 2024 | +7.3% | +10.0% |
| December 31, 2023 | +12.2% | +11.2% |
| September 30, 2023 | −7.2% | −3.6% |
| June 30, 2023 | +4.6% | +8.3% |
| March 31, 2023 | −3.5% | +7.0% |
| December 31, 2022 | +9.7% | +7.1% |
| September 30, 2022 | +5.7% | −5.3% |
| June 30, 2022 | −6.8% | −16.5% |
| March 31, 2022 | −13.1% | −4.9% |
| December 31, 2021 | +1.9% | +10.7% |
| September 30, 2021 | +6.1% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Avoro Capital Advisors LLC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1633313&type=13F-HR&dateb=&owner=include&count=40CIK 1633313
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1633313/000110465926096427/Filed August 14, 2026 · accession 0001104659-26-096427